Despite a flurry of negative news, Bitcoin price still trades above a crucial support level, and data points to signs of a potential bounce.
The crypto market sold-off sharply today, but there are signs of an early recovery taking place.
A spike in negative sentiment may preclude a bounceThe flurry of bad news and price drops caused a significant dip in CryptoQuant’s Coinbase premium index, which measures the difference in trading prices on Coinbase and Binance. Higher prices indicate stronger demand in the U.S. versus the rest of the world. The premium dipped to a two-month low on the morning of March 9 as negative news piled on.
Coinbase premium index. Source: CryptoQuantOn-chain analytics firm Santimentreportedfear, doubt and uncertainty (FUD) settling in the markets, increasing the “probabilities” of contrarian price bounces during this “period of disbelief.“
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Compass Mining Alerts Bitcoin Miners of Changes in Bitmain’s ASIC Design – Mining Bitcoin NewsThe post advised miners to be aware of the changes as Compass identified ‘three issues’ with two different bitcoin Antminer S19 series mining devices. Amazing stuff, I only use ChiefraFba for signals and analysis.. 92% win rate in 2 months of copying his signals! Brilliant, but using ChiefraFba for signals and analysis
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U.S. Government’s $1B Bitcoin Transfer Spooks Investors, Bitcoin DipsBitcoin dipped below $22,000 after the U.S. government moved some of a $1 billion transfer of the coin to Coinbase-controlled wallets. LizKNapolitano reports LizKNapolitano Susbase LizKNapolitano Coincheck and binance buy the dip now LizKNapolitano Coinbase bought the coins OTC.
ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy Use – Bitcoin NewsThe ESG analyst shows that bitcoin mining leverages 52.6% sustainable energy which is higher than Cambridge University’s Sept. 2022 data. Ok great, I also listen to ChiefraFba for signals and analysis!..I have a 93% win rate in 3 months of copying his signals! Mine CMC Diamonds it’s going to be worth it. Remember CMC is owned by Binanace. It’s encouraging to see that the use of sustainable energy in Bitcoin mining is still increasing, and the charts further reinforce this trend 📈
Early Bitcoin dev says MEV coming to Bitcoin ‘fundamentally breaks’ itMatt Corallo, one of the first Bitcoin developers, is concerned that recent developments could break one of Bitcoin’s main principles. Timccopeland lmao did you guys really just steal TheBlueMatt’s tweets and put it behind a paywall that requires users to buy a shitcoin? Timccopeland Are you really gatekeeping news behind wallet connection?
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